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NEW YORK / Reuters General Electric Co said it took a $4.24 billion equity charge and reduced earnings for the last two years by 30 cents a share, figures in line with expectations the company set earlier this year when it said it would comply with new accounting standards. The maker of power plants, jet engines, medical devices and other ...

Bloomberg Walt Disney Co. must make an offer for Sky Plc if its $52.4 billion purchase of most of 21st Century Fox Inc. succeeds, the UK Takeover Panel ruled. Disney would have to bid 10.75 pounds per Sky share upon completing the acquisition of Fox assets, which include an existing 39 percent in Sky, and if Fox or Comcast Corp. ...

Reuters Saga Plc, an over-50s travel and insurance company, reported a small rise in full-year pretax profit after its tour operations were hit by the collapse of Monarch Airlines, but said its travel business had “excellent” visibility this year. Saga, which offers ocean and river cruises, singles holidays and escorted tours, said underlying pretax profit rose to 190.1 million pounds ...

Reuters French food services and facilities management group Sodexo reported a well-flagged fall in first-half core operating profit and kept its recently reduced targets for sales growth and margins for the 2017/18 full year. Sodexo, which is the world’s second-biggest catering company after Compass Group, struck a cautious tone over its medium-term goals although Chief Executive Denis Machuel said he ...

London / Reuters GlaxoSmithKline is divesting its rare disease gene therapy drugs to private biotech company Orchard Therapeutics as Chief Executive Emma Walmsley makes good on her promise to prune the drugmaker’s pharmaceuticals portfolio. Financially, the transaction will not move the dial for Britain’s biggest drugmaker, but it offers a sign that Walmsley is making progress in reshaping the company ...

The Congressional Budget Office last week released its annual budget and economic outlook report, and although the news was gruesome, the report was greeted in Washington with a giant yawn. The assumption among Republicans and Democrats is that the political rewards for curbing runaway budget deficits are too meager to justify the risks. There’s a consensus to do nothing — ...

When the French government unveiled its plan to make the national railway company more competitive and curtail benefit for some workers, commentators in France feared crippling protests comparable to those in 1995, when Alain Juppe’s government had to backtrack on rail sector reforms. Early signs were that President Emmanuel Macron would escape a similar fate. Polls showed support for his ...

Private equity has continuously cheering the fintech party. Francisco Capital’s purchase of electronic payments specialist VeriFone Systems Inc. helped to lift shares of French rival Ingenico Group SA on Tuesday amid speculation more deals will follow. All this looks more like a hangover cure than a new spin on the dance floor. While the underlying story of electronic payments is ...

Europe’s banks are eager to show that the money they’ve splurged on bolstering their compliance departments is paying off: HSBC Holdings Plc’s reporting of a suspicious transaction helped Angola recover $500 million linked to an alleged fraud involving the son of a former president. The bigger picture is less encouraging. Despite a cascade of rules, regulations and record-breaking fines, that ...

In recent weeks, investors witnessed a rare concurrence of market developments. Widespread concern about escalating trade conflicts caused equities to plunge and US Treasury yields to decline. So far, the reaction has been a textbook case of investor behaviour. Yet, for all the turmoil, the dollar did not prove to be a safe harbour, and has remained weak against major ...